We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
Published online by Cambridge University Press: 25 May 2023
Three theoretical traditions dominate our understanding of decision-making. The rational actor model assumes individuals are self-interested and maximize their utility subject to budget and time constraints. When outcomes depend on the decisions of others, as in the problem of common pool resources, trust and norms can avoid support sustainability. Social psychological models examine the role of values, especially altruism and self-interest, beliefs, norms, identity, emotions, empathy and trust in decision-making. The heuristics and biases literature shows that decisions are often based on mental shortcuts that deviate from the rational actor model. Our tendency towards biased uptake of new information and communicating mostly with those similar to us can lead to polarization. The three theories can be viewed as complementary: each yields important insights into decision-making.
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
